T. Rowe Price buying leading credit shop Oak Hill

T. Rowe Price is set to acquire Oak Hill Advisors in a bid to accelerate its expansion into alternative investment markets.

Oak Hill Advisors (OHA) will bring a $53 billion alternative credit portfolio into the mutual fund complex. The move is expected to bring private, distressed, special situations, liquid, structured credit and real asset strategies in addition to more than 300 employees around the globe.

The terms of the transaction have T. Rowe Price acquiring 100% of the equity of OHA and other entities that have common ownership for roughly $4.2 billion. A total . . .

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